Notable Housing Numbers From March 2018
What's the median home value in Tampa, the best market for first-time homebuyers? What share of her income does a homeowner pay for a typical home in Oklahoma City, the most affordable market in the country? How much does the average homeowner spend on closing and other "hidden" costs of selling a home? We have the answers!
Global Tumult Helps Keep Mortgage Rates Low
Just as macroeconomic fundamentals are poised to push rates higher, geopolitical fears seize the headlines, prompting a financial flight to safe assets and pushing mortgage rates downward.
January Case-Shiller Results and February Forecast: Prelude to Home Buying Season Already Hot
Home prices in Seattle, Las Vegas, and San Francisco posted the highest annual gains among the 20 cities, rising 12.9 percent, 11.1 percent and 10.2 percent, respectively.
February Existing Home Sales: Rebounding Despite Bad Weather
Sales likely would have been stronger if it were not for weather-related disruptions in the Northeast and Midwest.
Rapid Reaction: February New Home Sales
February new home sales fell 0.6 percent from January, to 618,000 units (SAAR), the third straight month of declines compared to the month prior. New home sales were up 0.5 percent year-over-year.
Rent Growth Accelerating at Fastest Pace in 21 Months (February 2018 Market Report)
For the seventh month in a row, Sacramento led major metro areas in rental growth. Meanwhile, the San Jose metro area posted astonishing annual home value growth of 26.4 percent, reaching a median of $1.25 million.
Mortgage Rates Rebound to Four-Year Highs
The Federal Open Market Committee said today it's increasing its benchmark short-term interest rates, and it released quarterly projections that suggest a slightly faster pace of rate hikes over the next two years than had been anticipated.
Rapid Reaction: February Existing Home Sales
February existing home sales rose 3 percent from January and 1.1 percent from a year ago, to 5.54 million sales (SAAR), according tot he National Association of Realtors. The median price of existing homes sold last month rose 5.9 percent from a year ago, to $241,700, the 72 straight month of price increases.
February Home Sales Likely Held Back by Wintry Weather, Rising Rates, Limited Listings
Persistently and relentlessly tight inventory, rising mortgage interest rates and a series of nasty winter storms likely combined to keep February home sales activity muted, especially sales of existing homes.
